The total inventory of China building materials increased by the same year-on-year

The total inventory of China building materials increased by the same year-on-year

This week, the total national thread stocks increased by +0.7%, or +3.8% year-on-year; social stocks fell by -4.1%, compared with -8.7% year-on-year; in-plant inventory increased by +8.5%, +28.9% year-on-year. From the data point of view, the total national thread inventory increased for the first time in the past four months, and the total inventory began to accumulate. At present, due to the rapid decline in steel prices, the willingness of steel traders to get goods is generally not strong, and the inventory pressure is shifting from traders to steel mills.

Multi-site steel plant opened for maintenance

SMM Steel believes that the market price is boosted or limited in terms of the current level of centralized maintenance of steel mills. If the market price continues to fall, and the steel mill cost line is approaching, and more steel mills will enter the overhaul and production cuts in the later stage, the market price support will gradually increase. In the short-term, the probability of a macro-pessimistic expectation leading to a decline in demand is not large. On the whole, steel prices are expected to stabilize, but the off-season demand will also constrain the rebound of steel prices. (Please order SMM steel data package for specific maintenance information)

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